Treasury Laws Amendment (OECD Multilateral Instrument) Act 2018

No. 83, 2018

An Act to amend the law relating to taxation, and for related purposes

Contents

1 Short title 1

2 Commencement 2

3 Schedules 2

Schedule 1—Amendments 3

Part 1—Multilateral Convention 3

International Tax Agreements Act 1953 3

Part 2—Technical amendments 4

International Tax Agreements Act 1953 4

An Act to amend the law relating to taxation, and for related purposes

[Assented to 24 August 2018]

The Parliament of Australia enacts:
1 Short title

This Act is the Treasury Laws Amendment (OECD Multilateral Instrument) Act 2018.
2 Commencement 1

Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information Commencement information Commencement information
Column 1 Column 2 Column 3
Provisions Commencement Date/Details
1. The whole of this Act The day this Act receives the Royal Assent. 24 August 2018

Note: This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

 2

Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.
3 Schedules

Legislation that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.
Amendments

International Tax Agreements Act 1953

 1 Subsection 3AAA(1)

Insert:

Multilateral Convention means the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting done at Paris on 7 June 2017.

Note: In 2018, the text of this convention was accessible through the Australian Treaties Library on the AustLII website (www.austlii.edu.au).

 2 Subsection 5(1) (after table item dealing with Mexican agreement)

Insert:

International Tax Agreements Act 1953

 3 Subsection 3AAA(1) (note to the definition of German agreement)

Repeal the note, substitute:

Note: The text of this agreement (including the protocol) is set out in Australian Treaty Series 2016 No. 23 ([2016] ATS 23).

[Minister’s second reading speech made in—

House of Representatives on 28 March 2018

Senate on 15 August 2018]

(66/18)